Caught in a BEAR TRAP?

I am still waiting for the correction. Will this happen?

Stock indexes have gone up despite poor housing data.

Perhaps, investors are more interested in the core durable goods orders that sent metal prices up. Alcoa and industrials helped to boost the rally.

We are just guessing good entry points. Some may want to enter at this high price, while many more would want to wait for better prices.

However, sometimes, the market would just run away and theres no chance to grab stocks at our desired price. This results in frenzy. And the euphoria mode that I talked about.

I think, we should let the dust settle first. A USD rally seem imminent, and this is a danger sign for equities, metals, bonds.

The market has been up for 4 weeks. Very nicely done, despite all the bad news, amid some good ones.

Today’s DOW chart shows that the BULLS want to destroy the bearish pattern and set up a bear trap. Will it work?

Bulls were in full force today. It will be hard to break this rally, but anything could happen.

Guess the best way is to hold all your positions. However, any sign of weakness should be sold into.

Happy trading.